LONDON — Telewest chief executive Charles Burdick could lose his job once the U.K.’s second largest cable operator completes its financial restructuring to reduce its £5.3 billion ($8.7 billion) debt.
Burdick, formerly finance chief at Telewest, replaced Adam Singer when he was forced out last year.
Company’s restructuring is due to be completed in the fall when a new exec is expected to be appointed to manage a possible merger with NTL, Britain’s largest cable operator. Consolidation is necessary if the cable industry is to compete effectively with Rupert Murdoch’s satcaster BSkyB for TV subscribers and BT for telephone customers.
Chairman Cob Stenham is also stepping down, although he may remain on the board.